Investors Buy Large Volume of Call Options on AST SpaceMobile (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the recipient of unusually large options trading on Monday. Investors acquired 40,208 call options on the stock. This is an increase of 32% compared to the typical volume of 30,380 call options.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its stake in AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. lifted its position in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after acquiring an additional 2,217,531 shares during the period. Broad Run Investment Management LLC boosted its position in shares of AST SpaceMobile by 74.8% during the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after purchasing an additional 1,695,805 shares in the last quarter. Masters Capital Management LLC bought a new stake in AST SpaceMobile in the 1st quarter valued at about $2,900,000. Finally, NewGen Asset Management Ltd acquired a new position in AST SpaceMobile during the 2nd quarter worth approximately $2,902,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Up 4.1 %

NASDAQ ASTS traded up $0.76 during trading hours on Monday, hitting $19.27. 11,376,866 shares of the company traded hands, compared to its average volume of 7,875,737. AST SpaceMobile has a twelve month low of $1.97 and a twelve month high of $21.28. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of -19.47 and a beta of 1.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51. The business’s 50-day moving average is $11.89 and its 200-day moving average is $6.06.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $3.00 million. Sell-side analysts anticipate that AST SpaceMobile will post -0.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ASTS. UBS Group increased their price target on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Scotiabank upped their target price on shares of AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a research note on Thursday, May 30th.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.